You know Bask Bank (which used to be known as BankDirect) as a bank to earn American Airlines AAdvantage miles.
They are now entering the high yield savings market with a new product called the Bask Interest Savings Account, available (for now) only to existing Bask Bank Mileage Savings Account holders.
The initial APY will be 0.6%, which makes it highly competitive.
It beats the Marcus by Goldman Sachs “base rate” of 0.5% as of the time of this article, however, I’ve also shared in the past that you can get 0.6% at Marcus with your AARP membership (at any age). And last week, I shared that you can actually get 1.00% APY at Marcus for three months via referral.
One nice thing about the competitive rate at Bask is that you can easily move money back and forth between your mileage account and your cash savings account, letting you adjust both to current travel goals and current interest rates (which one expects will start to rise sooner rather than later at this point).
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You can find credit cards that best match your spending habits and bonus categories at Your Best Credit Cards.
New to all of this? My “introduction to miles and points” book, MilesTalk: Live Your Wildest Travel Dreams Using Miles and Points is available on Amazon and at major booksellers.